Shares of Mercer International Inc. (NASDAQ:MERC – Get Free Report) (TSE:MRI.U) have been given a consensus rating of “Hold” by the six analysts that are currently covering the firm, Marketbeat reports. Six investment analysts have rated the stock with a hold recommendation. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $8.92.
Several equities analysts have issued reports on the company. StockNews.com raised Mercer International to a “sell” rating in a research note on Thursday, February 1st. CIBC upgraded Mercer International from a “sector underperform” rating to a “neutral” rating and upped their price target for the stock from $8.00 to $9.00 in a report on Friday, January 12th. Raymond James upped their price objective on Mercer International from $7.50 to $8.50 and gave the company a “market perform” rating in a research note on Tuesday, February 6th. Finally, TD Securities upped their price objective on Mercer International from $9.00 to $10.00 and gave the company a “hold” rating in a research note on Monday, November 6th.
Mercer International Stock Up 1.3 %
Institutional Inflows and Outflows
A number of hedge funds have recently modified their holdings of the business. BNP Paribas Arbitrage SNC grew its stake in shares of Mercer International by 29.1% during the second quarter. BNP Paribas Arbitrage SNC now owns 6,396 shares of the basic materials company’s stock valued at $52,000 after buying an additional 1,440 shares during the last quarter. Amalgamated Bank increased its holdings in Mercer International by 19.6% during the 3rd quarter. Amalgamated Bank now owns 13,291 shares of the basic materials company’s stock worth $114,000 after purchasing an additional 2,182 shares during the period. Credit Suisse AG increased its holdings in Mercer International by 9.1% during the 2nd quarter. Credit Suisse AG now owns 33,034 shares of the basic materials company’s stock worth $434,000 after purchasing an additional 2,747 shares during the period. Geode Capital Management LLC increased its holdings in Mercer International by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 417,096 shares of the basic materials company’s stock worth $4,854,000 after purchasing an additional 2,888 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in Mercer International by 1.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 226,021 shares of the basic materials company’s stock worth $1,824,000 after purchasing an additional 4,005 shares during the period. Institutional investors own 83.89% of the company’s stock.
About Mercer International
Mercer International Inc, together with its subsidiaries, manufactures and sells northern bleached softwood kraft (NBSK) pulp in Europe, the United States, Asia, and internationally. The company operates through two segments, Pulp and Wood Products. It also generates and sells green energy produced from biomass cogeneration power plant to third party utilities.
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